Mobile apps have been an integral part of smartphones for over a decade. Mobile apps have disrupted many industries – just think of any app that you use the most such as Netflix and see how it has changed the video-on-demand dynamics of the entertainment industry.
If you are looking to invest your money in something that can bring value to you, then Mobile Applications is the opportunity that will not let your money go waste. Let’s find out why mobile apps can turn your investment into a fortune:
There are approximately 7.7 billion people in the world, and amongst them, 5 billion uses mobile devices. This indicates that more than 65% of the total world population use mobile phones and applications in it.
The following graph shows how smartphone users have grown from 1. 57 billion in 2014 to 2.53 billion in 2018 it is expected that this data will cross the mark of 3 billion by the year 2021.
Mobile applications have also become a necessity for people to simplify their day to day lives. So apps are the best thing that you can invest in without giving it a second thought. Now let us look at the top-grossing apps worldwide:
This will clear your perception of what type of applications are in trend these days. This blog will give you a deep understanding of the overall mobile app curve, and how can you take benefit from it.
Mobile Application Market is the rapidly growing segment in the mobile industry. Another survey by the SensorTower depicts that the Global App Revenue Reached $39 Billion in the First Half of 2019, Up 15% Year-Over-Year.
Now let’s explore what categories can make your investment worth:
1. Gaming Apps
With the evolving digitization, gaming apps are thriving at an exponential rate. The mobile gaming industry has reached 60% of the market share in consumer spending.
Moreover, there are 62% of people install a game on their phone within a week of owning it, and games account 43% of all smartphone users. These numbers and the above list of top-grossing apps shows that games are ruling the worldwide market.
Whether you talk about a puzzle game like “Candy Crush” or arcade game like “PUBG” they have shown us a drastic change in their revenue. Therefore investing in the game app that 4.8 billion people have on their phones will be worth.
Do you agree?
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2. On-Demand Apps
On-demand apps are everywhere now, and this wave has made people addicted by offering tremendous convenience and ease. This concept works by connecting people who need help with getting something done instantly to those who can provide a prompt solution to their problem.
Let us show you how your investment in on-demand apps will be valuable. The survey by Harvard Business Review shows that On-Demand economy is attracting 22.4 million consumers every year, and the spending is approximate $57.6 billion.
The analysts of Grand View Research forecast a CAGR of 19.8% till 2015. Thus, by the middle of the next century, the volume will be over a quarter of a trillion-dollar.
The live examples of this prosperous economy are Airbnb, which is an advantage for the hospitality industry and has seen rapid growth.
Another example is Uber, which has completely changed the transportation industry and is still in demand.
Now let’s put light on the video-on-demand app Netflix, which is one of the leading top-grossing apps (non-game).
Therefore another choice for investment should be on-demand apps.
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3. Finance Apps
Due to the rising capabilities of advanced technologies, it has become easier to perform various tasks that previously were hefty and time-wasting. Introduction of digitization has brought independence for finance app industry with it.
The growing need for on-demand services and the burgeoning need for easy money access has commenced the emergence and growth of financial app market. It was recorded that 200 billion financial app sessions occurred globally over Android and iOS devices in 2016.
Now let’s highlight the future growth of these apps. The Financial App Market is foreseen to record a CAGR of 13.2% by 2023. The scope of the report is for app services offered by iOS and Android, which includes budgeting, forecasting, etc.
Now tell us would you instead make your transactions in one tap or want to stand in queue for half of your day to make a simple transaction. We can sense that the answer is one tap app. Then investing in Finance app will be a fruitful investment for you because everything can be bought through money only!
We know you are wondering how much will you need to invest!
So, let’s find out.
Auxano Global Services has been building apps since 2013. Our resources on app costs have been shared tens of thousands of times and referenced across the web. Here one of our most popular articles on how much it costs to build an app.
How much does it cost to build an app?
Mobile apps can cost you approximate between $10,000 to $1,50,00 for a primary mobile app, considering that you prefer Android and iOS platform, medium-sized app development team, and a couple of complicated features. It also depends upon the mobile app development company you pick.
To get an accurate estimation of the cost, you need to define what you need your app to do, which platform you want for your app and who will be the end-users. These points will determine how much different mobile app development companies will require to bring your concept to real-life.
Factors that affect the cost of an app development
A number of factors should be considered while evaluating the cost of app development:
- The complexity of your app
- Functionalities and features
- Size of the mobile app development company you pick
- Platform: Android or iOS
- Ongoing costs and improvements
- Payment milestones
While picking an app development company do remember to enquire all these aspects. If you still have queries, contact us now and get consulting services without paying a single penny.
Summing it up:
If you are thinking of investing your precious money in something that can be fruitful to you, then go for the above options. Are you still not satisfied or struggling to figure out in which app you should invest your money? Get in touch with our team and let us do the hard work for you.